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Ethereum enters ‘scarcity mode,’ paving the way for ETH rally to K — Analyst
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Ethereum enters ‘scarcity mode,’ paving the way for ETH rally to $6K — Analyst

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Ethereum enters ‘scarcity mode,’ paving the way for ETH rally to K — Analyst
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Ethereum enters ‘scarcity mode,’ paving the way for ETH rally to $6K — Analyst

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Source: Coin Telegraph

Ether’s price metrics have replicated 3 key bullish actions which resulted in a 120% rally in Q1 2024. Will it happen again? 

Ether (ETH) recorded its largest three-day return of 2024, with a 21% spike after President-elect Donald Trump was announced as winner of the US presidential election. The rally also took the altcoin above its overhead resistance of $2,800, breaking a trend bottom consolidation range that lasted 96 days.

Ethereum 3-day chart. Source: TradingView

With the crypto community anticipating a new bullish leg, Ether has flashed a strong buy signal based on a historical setup from 2023.

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Author: Biraajmaan Tamuly

Related posts:

  1. Ethereum Classic soars 100% in nine days outperforming ETH as ‘the Merge’ approaches
  2. The floppening? Ethereum price weakens post-Merge, risking 55% drop against Bitcoin
  3. Ethereum’s deflation accelerates as Shanghai upgrade looms — Can ETH price avoid a 30% drop?
  4. Time to ‘pull the brakes’ on Ethereum and rotate back to Bitcoin: K33 report
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